LuLu festival celebrates Saudi-India friendship

The Social Development Bank successfully concluded its participation as a strategic partner in the “Forsaty 4” forum, held under the patronage of Qassim Gov. Prince Dr. Faisal bin Mishaal. The event took place from Jan. 22 to 25 and highlighted SDB’s commitment to supporting entrepreneurship and empowering youth capabilities.

SDB’s pavilion at the forum witnessed significant engagement from entrepreneurs and attendees, eager to learn about the diverse range of financing services offered by the bank. Visitors also benefited from specialized advisory platforms designed to support project development and showcase inspiring success stories. Additionally, attendees explored the “Jada 30” business incubator, which provides comprehensive support for emerging enterprises, and participated in the “Hackathon Jada thon,” a platform transforming creative ideas into actionable projects with technical assistance and practical guidance.

Sultan bin Abdulaziz Al-Hamidi, CEO of SDB, said: “SDB’s participation in the ‘Forsaty 4’ forum reaffirms our ongoing commitment to supporting youth and promoting entrepreneurship in line with Saudi Vision 2030. Through these events, we enhance sustainable development opportunities and open promising horizons for ambitious youth to become active contributors to the national economy.”

As part of its developmental efforts, SDB has provided financing to the Qassim region amounting to approximately SR7.9 billion ($2.1 billion). This support has been distributed across social loans, self-employment financing, and funding for productive families and small enterprises. Financing for self-employment and productive families alone grew from SR49.9 million in 2019 to SR184 million in 2024. Similarly, financing for small enterprises more than doubled, reaching SR214 million during the same period.

In addition to financial services, SDB has offered non-financial initiatives to promote a culture of self-employment and savings. More than 36,000 beneficiaries participated in 438 courses and workshops, while specialized training programs have been delivered to 24,000 individuals through 358 training courses.

“SDB’s involvement in the ‘Forsaty 4’ forum continues its legacy of impactful participation in previous editions,” it said in a statement. “Since its inception in 2019, SDB has been a strategic partner of the forum, strengthening its role in 2022 by introducing expanded services and initiatives to support entrepreneurs during the second edition. In the third edition in 2024, SDB further solidified its commitment by offering 20 advisory pavilions, 20 entrepreneurial support stations, and organizing specialized workshops, empowering young people and fostering entrepreneurship across the Kingdom, in alignment with the goals of Saudi Vision 2030.”

Cenomi Centers, the largest owner, operator and developer of contemporary lifestyle centers in Saudi Arabia, has announced a refreshed and renewed strategic partnership with the 2025 RLC Global Forum, supporting the platform for another year. 

Taking place on Feb. 4-5 in Riyadh, the highly anticipated event brings together global powerhouses, innovators and leaders across the retail sector to discuss the most important issues affecting the industry today. 

This year’s gathering takes place as Saudi Arabia’s retail market shows remarkable resilience and growth, totaling SR37.4 billion ($9.97 billion) in Q3 2024, against a backdrop of global economic uncertainty. Furthermore, the Saudi retail sector is expected to increase by a compound annual growth rate of 7.2 percent to 2028, reaching a total value of $142 billion; Cenomi Centers is at the forefront of this progress. 

Across the two-day event, there will be more than 100 speakers and over 600 companies present, alongside influential media analysts and partners. Regional and global leaders, CEOs and entrepreneurs will debate how to deliver growth and development across the sector, discussing strategy, innovation and key industry trends. Other distinguished partners to be involved include Diriyah Company, Apparel Group, Chalhoub Group and Panda Retail Company

Alison Rehill-Erguven, CEO of Cenomi Centers, said: “Our strategic partnership with the RLC Global Forum comes at an exciting time of expansion for Cenomi Centers, with our groundbreaking Jawharat Jeddah and Riyadh retail developments set to launch in 2025, changing the shape of the Saudi retail sector. We are thrilled to once again be championing the global retail industry at this leading event and look forward to some lively discussion on how what we do informs economies on both a local, national and international level.” 

Panos Linardos, chairman of the RLC Global Forum, said: “Our partnership with Cenomi Centers reflects a shared ambition to shape the future of retail in Saudi Arabia and beyond. Together, we are not only addressing today’s challenges but also driving meaningful conversations and actions that will define the next era of retail. This collaboration empowers Saudi Arabia’s retail sector to set new global benchmarks in resilience, growth, and innovation.”